Raymond James Financial Inc. Takes Position in CBRE Group, Inc. (NYSE:CBRE)

Raymond James Financial Inc. purchased a new stake in shares of CBRE Group, Inc. (NYSE:CBRE) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 279,098 shares of the financial services provider’s stock, valued at approximately $36,643,000. Raymond James Financial Inc. owned 0.09% of CBRE Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Algert Global LLC acquired a new position in shares of CBRE Group during the 3rd quarter worth approximately $1,829,000. Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of CBRE Group during the 4th quarter worth approximately $1,518,000. Merit Financial Group LLC acquired a new position in shares of CBRE Group during the 4th quarter worth approximately $256,000. Fulton Bank N.A. raised its position in shares of CBRE Group by 342.0% during the 4th quarter. Fulton Bank N.A. now owns 24,849 shares of the financial services provider’s stock worth $3,262,000 after purchasing an additional 19,227 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of CBRE Group by 17,304.5% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,829 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 3,807 shares during the last quarter. 98.41% of the stock is currently owned by institutional investors and hedge funds.

CBRE Group Stock Down 4.4 %

Shares of NYSE CBRE opened at $121.65 on Friday. CBRE Group, Inc. has a 52-week low of $84.24 and a 52-week high of $147.75. The firm has a fifty day moving average of $137.47 and a 200-day moving average of $131.00. The stock has a market capitalization of $36.50 billion, a PE ratio of 38.74 and a beta of 1.42. The company has a quick ratio of 1.13, a current ratio of 1.07 and a debt-to-equity ratio of 0.35.

CBRE Group (NYSE:CBRE) last announced its quarterly earnings data on Thursday, February 13th. The financial services provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.12. CBRE Group had a net margin of 2.71% and a return on equity of 16.96%. On average, analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Chad J. Doellinger sold 797 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $126.31, for a total transaction of $100,669.07. Following the completion of the sale, the insider now directly owns 28,735 shares of the company’s stock, valued at approximately $3,629,517.85. This represents a 2.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CBRE has been the subject of several analyst reports. Raymond James downgraded CBRE Group from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $155.00 to $152.00 in a report on Friday, January 24th. Citigroup boosted their price target on CBRE Group from $130.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI cut their price target on CBRE Group from $147.00 to $141.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their price target on CBRE Group from $142.00 to $145.00 and gave the company a “market perform” rating in a report on Friday, February 14th. Finally, Morgan Stanley boosted their price target on CBRE Group from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

About CBRE Group

CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.